Analysts had expected the solar panel systems provider to earn $3.60 a share this year, according to FactSet. Sales were seen around $3.17 billion.

First Solar ended 2012 with EPS of $4.90 and net sales of $3.37 billion.

What was even crazier is that the new guidance came a little over a month after First Solar said it would hit a bump in the road in the first quarter, thanks to competitive pricing and the loss of a project in India.

First Solar changed its business model a couple of years ago. From maker of solar panels — a market that got inundated by cheaper solar panels from China — the company changed its focus to developing solar farms for utilities.

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